PITTSBURGH (AP) _ Federated Investors Inc. (FII) on Thursday reported third-quarter net income of $73 million.
On a per-share basis, the Pittsburgh-based company said it had profit of 72 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The one of the nation's largest managers of money market funds posted revenue of $340.3 million in the period.
Federated Investors shares have climbed 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $31.33, a rise of 41% in the last 12 months.